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Elders Home Loans

Katrina Parrington

I am a long term Centralian resident with more than 18 years experience in the financial services industry. Initially, in Real Estate in Adelaide before pursuing a career with Elders Insurance Alice Springs and lending roles with major banking institutions where I gained extensive experience in Home Loans and Commercial Lending here in the Alice and in Darwin.

I have a unique set of skills that ensures I understand your lending needs and can provide you with professional advice and personal service.

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MFAA Awards

EHL Awards

Katrina Parrington Wins Top Broker Award

The winner of the MFAA Achievement Award for 2010 is Katrina Parrington from Elders Home Loans - Alice Springs.
The Achievement Award recognises the best broker in Australia in business less than 4 years.

Posts Tagged ‘Housing’

The Australian Government has released draft legislation for public consultation that provides property investors with the opportunity to have their say around proposed changes to depreciation deductions that were announced in this year’s Federal Budget.

While many young Australians fear the property market has risen beyond their reach, eighteen-year-old Charles Bates was able to buy his own home with savings, government assistance, and a little help from his parents.

Federal, state, and local governments are flat out trying to fund the Nation’s essential infrastructure let alone rental accommodation. The percentage of Australian residential dwellings that are funded by governments has shrunk to a miserly 2.9% per year. Mum-and-dad property investors need to continue to be encouraged to add to the rental pool of Australia’s growing population. According to official ATO records, 30% of all Australian residential dwellings receive rental income. The other 70% of dwellings are occupied by the owner (whether mortgaged or debt free).

The reserve bank of Australia has taken a national perspective on the economy by taking the brave step of cutting the interest rate once more. This decision was taken despite the strong rise in Sydney property prices. Trends in other cities and Australian towns are varied.

Interest rates are at incredible lows but as well as the Reserve Bank making adjustment, the NT Government must consider what adjustments it can make to help home owners into their first home and to stimulate competition in business to make home ownership more affordable overall. Read the rest of this entry »

CoreLogic RP Data’s weekly Property Pulse shows which suburbs have the most affordable median value near the CBDs of Australia’s capital cities.

According to the data, the median value for Sydney’s inner city houses is significantly higher than the rest of the capital cities, with Turrella as the most affordable suburb in Sydney having a median house value of $839,676.

Knowledge is power when it comes to negotiating the best deal possible for your mortgage!

Do your homework and be definite about what you do or don’t need your mortgage to do. Packages are offered across the banks with interest rate discounts based on borrowing volumes and sometimes LVR’s (loan to value ratio’s which simply is debt divided by the value of your property) the lower the ratio generally the stronger the deal.

Get a strong understanding of your current lending needs and the type/s of loans you currently hold ie. variable or fixed. Consider your future lending/investment needs – be honest with yourself clarify your potential lending needs and develop an accurate and complete financial picture.

If you are uncomfortable wrangling with the bank get your local lending professional to do it for you,

Mortgage Brokers work across all of the banks and have this information at their fingertips. Any Broker worth their salt should be negotiating the best deal possible for their client as a matter of business.

At the end of the day you need to present your lending needs in the best possible light. Amplify your strengths, highlight strong income, good equity, clean account conduct these are all positives for the bank and for you. Make it clear that if your bank is not prepared to negotiate you will move your business to a bank that is prepared to work with you.

And, yes there are costs in refinancing – some banks will assist a client with these costs to make refinancing existing lending easier should your current bank refuse to assist. If the reimbursement of costs is not available do your numbers to ensure you’re making the best move before you jump.

Don’t accept advertised rates, scour the market, research what other financial institutions are offering and armed with this knowledge bargain with your bank.

You don’t get what you don’t ask for is the motto I go by and generally I can shave up to 1% or more off the banks advertised rate armed with knowledge and a bit of negotiation.